I know two families doing this.
I used to live in a village which was geographically closest to an outstanding, highly-sought after, secondary school in a neighbouring village. The only problem was that the catchment area is about 500m from the school gates, so no child from my village could get a place, and there were even children in the same village as the school who would miss out.
There were two other potential (mediocre) secondary schools the Dc might be able to get into (if they were lucky), but one was about 4 miles to the East and the other 4 miles to the south (with no bus service). So even those schools were not certain.
So, when their eldest DC was in year 5 , my next door neighbours rented out their owned home and rented a house next to the outstanding secondary school. Then they got the place and gave their tenants notice in the summer before year 7 started. (The tenants were very annoyed!).
I moved away, but I bumped into another ex-neighbour a couple of months ago. Her eldest is in year 5 now, and she was telling me that her family have now done exactly the same thing so that they can make their applications for the outstanding secondary next October.